Called to Account Financial Frauds that Shaped the Accounting Profession

Called to Account takes a broad perspective on how financial frauds have shaped the public accounting profession by focusing on cases of fraud around the globe. Ever entertaining and educational, the book traces the development of the accounting standards and legislation put in place as a direct consequence of these epic scandals.

The new edition offers updated chapters on ZZZZ Best and Arthur Andersen, plus new chapters devoted to Parmalat, Satyam, and The Great Recession. Through stories like Barry Minkow’s staged constructions sites and MiniScribe’s fake inventory number generating computer program, "Cook Book", students will learn that fraud is nothing new, and that financial reform is heavily influenced by politics.

With discussion questions and a useful chart showing instructors and students how each chapter illustrates the topics covered in other textbooks, Called to Account is the ideal companion for any class in auditing, advanced accounting or forensic accounting.

@Contents:Preface  1. Scandal and Reform  Part I: Birth of a Profession  2. Out of Darkness  3. Ivar Kreuger  4. McKesson & Robbins  5. Into the Spotlight  Part II: The Profession’s Principle Problem  6. Generally Accepted Accounting Principles  7. National Student Marketing  8. Equity Funding  9. Déjà Vu  Part III: The Savings & Loan Crisis  10. It’s a Wonderful Life?  11. ESM Government Securities  12. Lincoln Savings & Loan  13. Bank Robbers  Part IV: The Expectation Gap  14. Auditors and Fraud  15. ZZZZ Best  16. Crazy Eddie  17. Closing the Gap  Part V: The Litigation Crisis  18. Auditors’ Legal Liability  19. Fund of Funds  20. MiniScribe  21. Litigation Reform  Part VI: Beginning of the End  22. Auditor Independence  23. Waste Management  24. Sunbeam  25. End of the Millennium  Part VII: From Profession to Regulated Industry  26. Professionalism  27. Enron  28. WorldCom  29. The Perfect Storm  Part VIII: The World is Flat  30. Global Financial Markets 31. Parmalat  32. Satyam  33. The Great Recession  34. Conclusion  Appendix A: Discussion Questions  Appendix B: Suggestions for Integrating Called to Account with Popular Auditing Texts

Paul M. Clikeman is Associate Professor of Accounting at the E. Claiborne Robins School of Business at the University of Richmond, USA.